Biggest deals in India: Diageo-United Spirits tops

Biggest deals in India: Diageo-United Spirits tops

UK-based Diageo's acquisition of 53.4 per cent stake in Vijay Mallya-led United Spirits for Rs 11,166.5 crore ($2 billion) could be the biggest inbound M&A deal so far this year.

Some of the major inbound deals - wherein a foreign company or its subsidiary had acquired an Indian entity - in the past, includes BP's $9 billion acquisition of Reliance Industries' oil & gas assets and the acquisition of Cairn India by NRI billionaire Anil Agarwal led-Vedanta Resources for over $8 billion.

Biggest deals in India: Diageo-United Spirits tops

Other key inbound transactions include Japanese drug major Daiichi Sankyo Company's acquisition of majority stake in Ranbaxy Laboratories Ltd for up to $4.6 billion and US-based Abbott's acquisition of Piramal Healthcare's domestic formulation business for $3.72 billion.

Biggest deals in India: Diageo-United Spirits tops

Commenting on the deal Deloitte India Leader, Financial Advisory Avinash Gupta said, "This is most likely the largest inbound deal so far this year but it is not a trend and it does not signify that many more such inbound deals are likelyto happen. This is just a unique situation where a deal has happened."

Biggest deals in India: Diageo-United Spirits tops

World's largest spirits maker Diageo Plc on Friday announced it will acquire 53.4 per cent stake in United Spirits for Rs 11,166.5 crore in a multi-structured deal, which may provide Vijay Mallya a breather from troubles emanating from thegrounded Kingfisher Airlines.